According to sources, Estee Lauder is in talks to acquire luxury fashion brand Tom Ford in what is expected to be a $3 billion or more deal representing the cosmetic mogul’s largest-ever acquisition.

New York-based Estee Lauder primarily sells skin-care products, perfume, and cosmetics. Its brands include Clinique, Aveda, MAC, and La Mer. With a nearly $100 billion market value, it has the money to do such a deal.

There are no guarantees the two firms will reach an agreement. Estee Lauder is not the only suitor for Tom Ford, one of the people familiar with the deal said.

Closely held Tom Ford is widely known for its menswear, though it also sells womenswear and accessories and a fast-growing, high-end line of cosmetics and fragrances. Estee Lauder is especially interested in the beauty business, which already has a longstanding licensing deal, and could potentially look to license the clothing lines elsewhere, the people familiar with the matter said.

Tom Ford’s beauty venture is considered an ultra-prestige brand, which resonates with the most discerning consumers. On its fiscal third-quarter earnings call in May, Estee Lauder executives mentioned that Tom Ford was among a handful of brands with double-digit sales growth and highlighted robust demand for such luxury brands in China.